I don’t deal in commodity silver but I do watch the market price because it has an impact on the market prices of used sterling flatware and hollowware pieces. One only has to track prices of sterling pieces on eBay and compare the trends with the commodity silver market price trend to confirm the correlation.
For the past six months, the commodity silver price has been moving sideways in a band within the range of roughly $19 to $24 per Troy ounce. See for yourself by examining the 2013 yearly chart. For those thinking about buying or selling used sterling pieces, the question is, “Where will the market go from here?”
I’m certainly not an expert but in looking at the forces that affect the world silver market price, things are rather stable right now. Yes, there are trouble spots all over the place and the U.S. government has trouble getting its financial act together. But, Europe has stabilized somewhat and the trouble spots seem poised to stay localized for the moment. The U. S. Federal Reserve continues on its course of “quantitative easing”. This trend could continue even longer than expected if the newly-nominated Janet Yellen ascends to the chairmanship of the Fed.
Iran has shown signs of being more reasonable. Even if this is a farce, things should be quiet along that front for a while as governments try to figure out the real situation.
In my opinion, the sideways movement could continue for months. I think those of us interested in buying and selling sterling pieces should not be too concerned about the short term silver market. I’ll be happy to once again be more focused on the beauty, condition and desirability of sterling flatware and hollowware pieces.